XML 93 R79.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONDENSED HOLDING COMPANY ONLY FINANCIAL STATEMENTS (Details) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
ASSETS:                      
Cash and due from banks $ 64,154       $ 78,187       $ 64,154 $ 78,187  
Investment securities available-for-sale 3,756       3,806       3,756 3,806  
Trading securities 10,201       8,559       10,201 8,559  
MBS available-for-sale 431       26,409       431 26,409  
Other assets 47,359       52,040       47,359 52,040  
Total assets 5,032,872       4,497,107       5,032,872 4,497,107  
LIABILITIES AND STOCKHOLDERS' EQUITY:                      
Trust Preferred securities payable 70,680       70,680       70,680 70,680  
Other liabilities 40,080       41,264       40,080 41,264  
Stockholders' equity 493,947       459,725       493,947 459,725 $ 435,506
Total liabilities and stockholders' equity 5,032,872       4,497,107       5,032,872 4,497,107  
CONDENSED STATEMENTS OF OPERATIONS [Abstract]                      
Net interest loss 33,586 $ 31,814 $ 33,070 $ 30,094 31,728 $ 31,959 $ 30,594 $ 30,255 128,564 124,536 128,487
Non-interest income 1,739 1,899 1,677 3,301 2,596 1,817 1,565 3,060 8,616 9,038 7,463
Non-interest expense 16,139 16,124 16,366 13,864 15,231 14,724 15,298 15,823 62,493 61,076 62,692
Income tax credit 8,241 7,092 7,987 7,925 7,628 7,788 7,531 7,177 31,245 30,124 29,341
Net income 11,384 10,081 11,529 11,778 11,987 11,765 10,460 10,034 44,772 44,246 43,548
CONDENSED STATEMENTS OF CASH FLOWS [Abstract]                      
Net income 11,384 $ 10,081 $ 11,529 11,778 11,987 $ 11,765 $ 10,460 10,034 44,772 44,246 43,548
Adjustments to reconcile net income to net cash provided by operating activities:                      
Net amortization                 2,738 2,641 2,834
Decrease (Increase) in other assets                 1,692 2,873 (8,168)
(Decrease) Increase in other liabilities                 (430) 5,573 5,637
Net cash provided by operating activities                 50,153 47,263 61,151
Cash flows from Investing Activities:                      
Proceeds from sale of investment securities available-for-sale                 2,070 3,780 366
Proceeds from the sales of trading securities                 1,340 7,115 131
Purchases of investment securities available-for-sale                 2,134 3,884 458
Net purchases of trading securities                 3,090 8,839 1,814
Principal collected on MBS available-for-sale                 1,602 5,863 17,372
Net cash provided by investing activities                 (553,674) (433,935) (168,403)
Cash flows from Financing Activities:                      
Treasury shares repurchased (20,000 shares during the year ended December 31, 2015)                 (300) 0 0
Release of stock for benefit plan awards                 251 201 293
Net cash used in financing activities                 489,238 419,332 73,953
Net increase (decrease) in cash and due from banks                 (14,283) 32,660 (33,299)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD       78,437       45,777 78,437 45,777 79,076
CASH AND CASH EQUIVALENTS, END OF PERIOD 64,154       78,437       64,154 78,437 45,777
Holding Company [Member]                      
ASSETS:                      
Cash and due from banks 57,014       58,112       57,014 58,112  
Investment securities available-for-sale 3,756       3,736       3,756 3,736  
Trading securities 10,201       8,559       10,201 8,559  
MBS available-for-sale 431       496       431 496  
ESOP loan to subsidiary 3,028       3,222       3,028 3,222  
Investment in subsidiaries 487,331       454,095       487,331 454,095  
Other assets 3,867       3,798       3,867 3,798  
Total assets 565,628       532,018       565,628 532,018  
LIABILITIES AND STOCKHOLDERS' EQUITY:                      
Trust Preferred securities payable 70,680       70,680       70,680 70,680  
Other liabilities 1,001       1,613       1,001 1,613  
Stockholders' equity 493,947       459,725       493,947 459,725  
Total liabilities and stockholders' equity 565,628       532,018       565,628 532,018  
CONDENSED STATEMENTS OF OPERATIONS [Abstract]                      
Net interest loss [1]                 (4,779) (4,748) (4,851)
Dividends received from Bank [1]                 16,000 18,050 54,500
Non-interest income [1]                 295 1,376 812
Non-interest expense [1]                 (667) (643) (636)
Income before income taxes and equity in undistributed earnings of direct subsidiaries [1]                 10,849 14,035 49,825
Income tax credit [1]                 2,321 1,803 2,183
Income before equity in undistributed earnings of direct subsidiaries [1]                 13,170 15,838 52,008
Equity in (overdistributed) undistributed earnings of subsidiaries [1]                 31,602 28,408 (8,460)
Net income [1]                 44,772 44,246 43,548
CONDENSED STATEMENTS OF CASH FLOWS [Abstract]                      
Net income [1]                 44,772 44,246 43,548
Adjustments to reconcile net income to net cash provided by operating activities:                      
Equity in (undistributed) overdistributed earnings of direct subsidiaries                 (31,602) (28,408) 8,460
Net gain on the sale of investment securities available for sale                 4 (997) (110)
Net (gain) loss on trading securities                 108 45 (265)
Decrease (Increase) in other assets                 (69) (489) 355
(Decrease) Increase in other liabilities                 (560) 1,680 (595)
Net cash provided by operating activities                 12,653 16,077 51,393
Cash flows from Investing Activities:                      
Proceeds from sale of investment securities available-for-sale                 2,000 3,780 366
Proceeds from the sales of trading securities                 1,340 7,056 131
Purchases of investment securities available-for-sale                 (2,134) (3,884) (458)
Reimbursement from subsidiary for purchases of investment securities available-for-sale                 1,655 1,620 642
Net purchases of trading securities                 (3,090) (8,839) (202)
Principal collected on MBS available-for-sale                 63 72 138
Principal repayments on ESOP loan                 194 179 166
Net cash provided by investing activities                 28 (16) 783
Cash flows from Financing Activities:                      
Common stock issued for exercise of stock options                 6,549 278 11,228
Treasury shares repurchased (20,000 shares during the year ended December 31, 2015)                 (300) 0 0
Release of stock for benefit plan awards                 251 202 293
Cash dividends paid to stockholders                 (20,279) (20,094) (19,716)
Net cash used in financing activities                 (13,779) (19,614) (8,195)
Net increase (decrease) in cash and due from banks                 (1,098) (3,553) 43,981
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD       $ 58,112       $ 61,665 58,112 61,665 17,684
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 57,014       $ 58,112       $ 57,014 $ 58,112 $ 61,665
[1] Other comprehensive income for the Holding Company approximated other comprehensive income for the consolidated Company during the years ended December 31, 2014, 2013 and 2012.